Verizon's $3.6B Purchase of Cable Spectrum Approved With Conditions

The Department of Justice (DOJ) today announced that it will approve Verizon Wireless's $3.6 billion purchase of spectrum from three cable firms under several conditions. There are still some concerns, but the FCC hasn't yet said what conditions it will impose on the deal. Once the deal is officially approved by the full commission, those details will be revealed.

"By limiting the scope and duration of the commercial agreements among Verizon and the cable companies while at the same time allowing Verizon and T-Mobile to proceed with their spectrum acquisitions, the department has provided the right remedy for competition and consumers," Joseph Wayland, acting assistant attorney general in charge of the DOJ's Antitrust Division, said in a statement. "The Antitrust Division's enforcement action ensures that robust competition between Verizon and the cable companies continues now and in the future as technological change alters the telecommunications landscape."

The spectrum purchase won't just allow Verizon to expand its wireless data network, but will also allow the cable partners Comcast, Time Warner Cable, and Bright House Communications to market their services in Verizon retail stores.

"We are pleased that the consent decree that we have negotiated with the Department of Justice preserves the most important goals of the agreements, including Comcast's ability to market Verizon Wireless services," David L. Cohen, Comcast's executive vice president said in a statement.

Read more -here-